Common use of Payment Adjustments Clause in Contracts

Payment Adjustments. If, subsequent to the payment of the Purchase Price or the payment of any amounts due hereunder to either Party, the outstanding principal balance of any Mortgage Loan is found to be in error, or if for any reason the Purchase Price or such other amounts is found to be in error, the Party benefiting from the error shall pay an amount sufficient to correct and reconcile the Purchase Price or such other amounts and shall provide a reconciliation statement and other such documentation to reasonably satisfy the other Party concerning the accuracy of such reconciliation. Such amounts shall be paid by the proper Party within ten (10) Business Days from receipt of satisfactory written verification of amounts due.

Appears in 4 contracts

Samples: Excess MSR Acquisition and Recapture Agreement (Cherry Hill Mortgage Investment Corp), Excess MSR Acquisition and Recapture Agreement (Cherry Hill Mortgage Investment Corp), Excess MSRS Acquisition and Recapture Agreement (Cherry Hill Mortgage Investment Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!